VST Tillers Tractors Franchise
Listed farm-machinery maker (power tillers, compact tractors) since 1967. Dealership investment bands from ₹15 L to above ₹60 L; 1,000+ dealers.
VST Tillers Tractors franchise at a glance (terms checked Sept 2026)
Investment
₹15 L - ₹60 L
Partly published by the brand · In line with the category (typical ₹33.75 L–₹1.22 Cr, median ₹37.5 L, 7 verified brands)
Ongoing take
No royalty — you earn a margin
Franchise fee
No franchise fee
Payback
Not published
- Legal or regulatory action on record — see Reputation & News
- Disputes with franchisees: None found (records checked Sep 2026)
- Profit or loss: Profit of ₹104.7 Cr in FY26
- Revenue trend: +21% revenue FY25→FY26
Franchisor strength isn't franchisee profit — check real outlet numbers.
Outlets
1,231 verified
Brand claims 1,000
What we couldn't verify
- • Outlet closures
- • Franchisee satisfaction
- • Network growth
- • Can sell the business
Ask before you sign
- Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
- Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.
Franchise terms checked against VST Tillers Tractors' official Become a Dealer page on 27 Sept 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.
Ways to Partner with VST Tillers Tractors
1 partner model published by the brand. Figures it doesn't publish are left blank.
VST dealer
- Investment
- ₹15 L – ₹60 L
- Royalty / margin
- Dealer margin on machines and spares; VST does not publish the rate
- Territory
- Location chosen by the applicant; territory terms not published
Application bands ₹15–20 L, ₹20–40 L, ₹40–60 L and above ₹60 L (top band open-ended).
Our Estimates
FranchiseChuno estimateVST Tillers Tractors doesn't publish these, so here is our best read of the market and how we got there. They are our estimates, not the brand's figures — use them to plan, then confirm the real numbers in writing.
Dealer margin
5–8% on machines (higher on spares and service)*
VST doesn't publish dealer margins, and no tractor-specific benchmark is public. The closest figure: a 2020 FADA study found Indian vehicle makers pay dealers 2.9–7.49% of the ex-showroom price (cars and two-wheelers), and FADA asked for at least 7%. We assume farm-machinery margins on machines sit in a similar 5–8% band, with more on spares and paid service. VST sells to dealers on 45-day credit, so working capital, not just margin, drives dealer returns.
Analyst judgement · Sep 2026
Monthly sales of an average VST dealer
₹6–10 L*
VST's FY26 consolidated sales of about ₹1,240 Cr (filings) spread across the roughly 1,230 dealer-locator entries is about ₹1 Cr a year, or ₹8 L a month, per entry at VST's selling price (before the dealer's markup). Exports and distributor entries pull the domestic dealer average down, while large tractor dealers sell far more.
Unit-economics model · Sep 2026
Reputation & News
2 red flags to checkWhat the press, courts and real franchisees or customers have said about VST Tillers Tractors — summarised by us, with every source linked.
- In the news· May 2026
Q4 FY26 profit fell 80% on an investment write-down
VST's March 2026 quarter profit dropped to about ₹5 Cr from ₹24.5 Cr, mainly because of a ₹33.74 Cr fair-value loss on investments. Revenue rose 9% to ₹329 Cr, and the board recommended a ₹25 per share dividend.
Source: CNBC TV18 - Legal / regulatory· Apr 2026
VST prosecutes dealers over unpaid stock
Bengaluru court judgments show VST filing cheque-bounce cases against dealers who could not pay for machines and spares bought on 45-day credit. Dealers in Khammam (Telangana, ₹35.66 L owed) and Madhubani (Bihar, ₹15 L cheque) were convicted in 2024 and 2026, and VST took a Tamil Nadu dealer to arbitration in 2022.
Source: Court judgments (via Indian Kanoon) - In the news· Sep 2026
Union Bank of India to finance farmers buying VST machines
VST signed an MoU with Union Bank of India for retail loans to farmers buying its tractors, power tillers, reapers and weeders. The loans will be offered through VST's network of more than 1,000 dealers.
Source: The Hindu - In the news· Jul 2026
₹100 Cr global tech centre in Hosur
VST says it broke ground on a Global Tech Centre in Hosur with an initial investment of ₹100 Cr. It describes the centre as its main R&D hub for tractors, tillers and farm machinery with combustion and electric drivetrains.
Source: VST press release (via BusinessMicro)
Show 1 moreShow fewer
- Award· 2025
CII Industrial Innovation Award in 2021 and 2022
VST lists back-to-back CII Industrial Innovation Awards and an IMEXI 2022 award for its Malur plant. It also lists 2024–25 recognitions, including CII design awards for its electric weeder.
Source: VST corporate profile (the brand's own site)
What a VST dealer sells
| Product line | Range |
|---|---|
| Power tillers | 9 HP to 16.5 HP |
| Tractors | 17 HP to 50 HP (series include Classic 17–27 HP, Series 9 18.5–29 HP, FENTM 19–30 HP) |
| Power weeders | Rear-tine and front-tine models |
| Power reapers | Multi-crop reaper for small and marginal farmers |
| Brush cutters | Light, medium and heavy duty |
| Premium tractors | Zetor range via the VST Zetor joint venture |
Source: VST products page and corporate profile
Dealer recognition programme
VST runs an achievers' club for its dealers.
- Programme
- RACE Club (Reapers Achievers Club of Elite)
- Latest meet
- RACE Club 4.0, Goa, 4 Aug 2025
- New tier
- CEO RACE Club launched at the 2025 meet
Source: VST newsroom
Key Terms at VST Tillers Tractors
The clauses that shape day-to-day running and your exit — read these before the fee.
- Payments to the brand
- VST supplies tractors, tillers and spares to dealers on credit, with payment due within 45 days of invoice (dealership agreement of Jan 2017, as described in a Bengaluru court judgment, Feb 2024).
- Other terms
- A 2010 VST dealership agreement sends disputes to a sole arbitrator appointed by VST, seated in Bengaluru, under Indian law (Karnataka High Court order, Jun 2022).
- Supply & stock
- Dealers buy VST machines and spares from the company on a running account.
Funding options
Customer finance
Union Bank of India
Retail loans for farmers buying VST tractors, power tillers, reapers and weeders through VST dealers (MoU, Sep 2026).
Legal & Contract Summary
Key contract terms at a glance — read before you sign.
Agreement Type
You buy and resell the brand's products
Contract Duration
—Renewal Available
—Territory Exclusivity
—Non-Compete Clause
—Exit Clause
—About the Brand
Brand USP
India's largest power tiller maker by its own account, also making compact tractors and small farm machines such as reapers and weeders.
Why invest in VST Tillers Tractors?
VST Tillers Tractors by the Numbers
Source marked on each figure70%+
Power tiller market share · Sep 2026
Brand claim1,000+ across India
Dealers · Sep 2026
IndependentAbout 1,230
Dealer locator entries · Sep 2026
Store locator40+ countries
Export footprint · Sep 2026
Brand claimMalur and Hosur (near Bengaluru), Mysuru (precision components)
Plants · Sep 2026
Brand claim5,00,000th power tiller rolled out (2023)
Milestone · 2023
Brand claimNSE: VSTTILLERS
Listing · Sep 2026
Company filingCities with Outlets
Show all 55 citiesHide the city list
Company Financials
Brand-level, publicly reportedThe franchisor's own company health — separate from what a single franchise outlet earns.
Revenue (FY26)
₹1244.71 Cr
Net profit (FY26)
₹104.72 Cr
Employees (Jul 2026)
1,137
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Health Check
What VST Tillers Tractors's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.
- Status with the registrar
- Active
- Annual filings
- Up to date
- Last AGM
- 10 Sep 2025
- Pending cases against it
- 1
- Pending cases it filed
- 0
- Paid-up capital
- ₹8.64 Cr
Group companies
- VST Zetor Pvt LtdSubsidiary · 51%
Source: Tracxn — MCA registrar data (compliance last updated 25 Dec 2025) (checked Dec 2025)
Full company recordsFinancials year by year, registered details, leadership and timelineShowHide
VST Tillers Tractors Financials Over Time
Figures for the brand, from filed or reported accounts.
Source: Tracxn — MCA filings, VST Tillers Tractors Ltd
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Profile
The legal entity behind the brand, its leadership, and its official channels.
- Registered name
- VST Tillers Tractors Limited
- Company type
- Public Listed
- CIN
- L34101KA1967PLC001706
- Incorporated
- 18 Dec 1967
- Headquarters
- Bengaluru, Karnataka
Leadership
- AArun V. SurendraChairman
- VV.T. RavindraManaging Director
- AAntony CherukaraCEO
- NNitin AgrawalCFO
Social presence
Company details source: Tracxn — company filings
VST Tillers Tractors Timeline
1911
VST group founded
V.S. Thiruvengadaswamy Mudaliar started VST & Sons; the group grew in petroleum retail and automobile distribution in Karnataka and Tamil Nadu.
10 Nov 1966
Joint venture with Mitsubishi
JV agreement signed with Mitsubishi Heavy Industries and Mitsubishi Shoji Kaisha.
18 Dec 1967
VST Tillers Tractors Ltd incorporated
1978
First power tiller exports
First batch exported to African countries.
3 Aug 1982
4WD compact tractors launched
14–20 BHP range.
2013
Hosur tractor plant inaugurated
2018
Malur power tiller plant starts; 50 years of operations
2023
5,00,000th power tiller and ₹1,000 Cr sales
Record 38,247 tillers sold; JV signed with HTC Investments (Zetor brand owner).
Jul 2026
Groundbreaking of ₹100 Cr Global Tech Centre, Hosur
SourceSep 2026
Union Bank of India farm-loan tie-up
Retail finance for farmers through VST dealers.
Source
FranchiseChuno Analysis
Our analysis of verified dataHow VST Tillers Tractors looks once the numbers are checked side by side.
- •Investment in line with the Automobile & EV medianMidpoint ₹37.5 L vs a category median of ₹37.5 L across brands on FranchiseChuno.
- ✓The franchisor company is profitableIts latest filed accounts show a net profit. That's the franchisor's money, not yours: a profitable franchisor doesn't mean its franchisees make money. Check real outlet numbers before you invest.
- ✓Brand operating for 59 yearsFounded in 1967. The brand doesn't state when franchising began.
- ✓Outlet claim matches its store locator1,231 outlets on its own store locator (Sep 2026), in line with the 1,000 it claims.
- !2 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.
Data completeness
55%
- ✓ Terms checked against the brand's own page
- ✓ Published investment (not an estimate)
- ○ Franchise fee
- ○ Royalty
- ○ ROI or payback claim
- ○ Agreement term
- ○ Training details
- ✓ Outlet cities verified
- ✓ Company financials
- ✓ Legal entity
- ✓ News & public opinion checked
Ask Before You Sign
Questions tailored to what VST Tillers Tractors does and doesn't publish.
- 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- 2Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
- 3Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.
- 4Ask for the agreement term, renewal fee and exit or transfer terms.
- 5Ask whether you get an exclusive territory, and how large it is.
- 6Ask the brand to respond to each red flag listed under Reputation & News.
- 7Have a lawyer review the franchise agreement before paying anything.
- 8Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShowHide
Operations Required
What you'll need on the ground to run this franchise day-to-day.
Area Required
—
Staff Needed
—
Setup Time
—
Owner Involvement
—
Best Locations
Not published
Business Type
Not published
Training & Support
What the brand provides to help you launch and run your franchise.
Operations Manual
Step-by-step playbook for running the outlet
Supply Chain Support
Vendor sourcing, inventory & logistics
Technology / POS
Billing, inventory, and management software
Marketing Support
National & local marketing campaigns
Launch Support
Pre-opening setup and grand-opening assistance
Ongoing Field Support
Regular visits and operational coaching
What VST Tillers Tractors franchisees say
We haven't yet heard from enough VST Tillers Tractors franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.
I run a VST Tillers Tractors outlet — share how it wentFrequently Asked Questions
What is the total investment for a VST Tillers Tractors franchise?
Does VST sell franchises?
Who supplies the stock, and on what payment terms?
How are disputes between VST and a dealer settled?
Can farmers get loans to buy VST machines from a dealer?
Similar Automobile & EV Franchises
View All
Interested in
VST Tillers Tractors